Why has WHSP given EOS a loan for 16 days? ... after which time, at their sole discretion, they can call both the $35 Million and the $22 Million loans!
I believe they are conducting as much Due Diligance as the law will allow so that they can determine a viable strategy going forward.
Some assumptions on my part:
1. The key issue is security clearances and access to some of the "secrets" of sovereign parties/customers. These clearances are attached to both the people and the the company and a change of ownership will jeopardize them, possibly taking months or even years to recreate
2. If EOS is placed into administration all potential tender business prospects disappear; potential sovereign parties/customers will not be able to wait until ownership of the IP is resettled
So, WHSP can't "take over" EOS but can control it's destiny.
My conclusion is that the future of EOS as a public company depends soley on the risk appetite of WHSP!
PS I wonder if WHSP was behind the vociferous and aggressive short selling over the last 18 months?
EOS Price at posting:
50.8¢ Sentiment: Hold Disclosure: Held
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